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CCP Calls Meeting Of Chinese Tech Giants As Investors Hope For End To Crackdown

As far as we know, President Xi has suspended his “common prosperity” crackdown on China’s biggest tech companies. And now, investors will be watching closely to see how the CCP reconciles collapsing domestic markets (hammered by its brutal lockdowns in Shanghai and other cities, and also by the weakening yuan which has revived fears about inflation and a domestic debt death-spiral) with its hopes to promote stability.

Bloomberg reports that China’s top tech-sector regulator, the Cyberspace Administration of China, will join the Chinese People’s Political Consultative Conference and business executives including Baidu founder Robin Li, as they plan to host a forum next week with some of the nation’s largest private-sector firms (including, as we mentioned, Baidu) in an event that will be closely scrutinized by investors as they look for indications about whether Beijing is planning to dial back its stimulus.

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